Passenger vehicle sales drop 1.87% in January

Passenger vehicle sales continued to remain under pressure in the new year with wholesale volumes falling 1.87% to 280125 units in January. As per data available with industry body Society of Indian Automobile Manufacturers (SIAM), sales of passenger vehicles stood at 285467 units in the year-ago period. Sales of commercial vehicles increased marginally by 2.21% to 87591 units. Three-wheeler sales fell 13.59% to 54043 units in the period under review. Increase in ownership costs also hurt demand for two-wheelers which declined 5.18% to 1597572 units in January. While sales of motorcycles dropped 2.55% to 1027810 units, those of scooters slid 10.21% to 497169 units. Overall, sales of vehicles across categories declined 4.68% to 2019331 units.

from Economic Times http://bit.ly/2WQMNMs